"People coming from Gwacheon evaluate the selling price as somewhat expensive, but there are also assessments that since it is close to the Seocho District living area, it is a reasonable price compared to the Seocho living area." (A representative from a real estate office in Yangjae-dong, Seocho District, Seoul)
On the afternoon of the 20th, the construction site of the Juam General Village in Juam-dong, Gwacheon, Gyeonggi Province, which I visited, was fenced off and construction was in full swing. The site plans to sell "DH Adelstar," applying Hyundai E&C's high-end brand.
Directly behind the construction site is the LG Energy Solution Gwacheon R&D Campus, and across from it is the LG Electronics Seocho R&D Campus. The proximity of Samsung Electronics Seoul R&D Campus and the Hyundai Motor headquarters suggests a significant advantage of being a residential complex close to workplaces. There are also living infrastructures such as Yangjae Costco and Emart within a 5-minute walk.
The complex will consist of 880 units across 31 floors above ground and 3 floors below. Of these, 348 units with exclusive areas of 59, 75, and 84 square meters will be available for general sale this month. Special supply will start on the 25th, followed by first priority subscription on the 26th and second priority subscription on the 27th, with winners to be announced on the 2nd of next month. Subsequently, the contract will be finalized between the 15th and 18th of next month. The move-in date is scheduled for September 2028.
Although DH Adelstar is administratively in Gwacheon, it is located at the end of Gwacheon, adjacent to the boundary with Seoul. It is situated near the Yangjae IC and Hyundai Motor Group's Yangjae headquarters, effectively making it part of the Yangjae-dong living area. The school district is also noted to be part of the so-called 'Gangnam 8th school district' schools affiliated with the Seocho Education Support Office, including Yeongdong Middle School and Eonnam High School.
Hyundai E&C applied its high-end brand "DH" for the first time outside of Seoul, given the advantageous location. Juam General Village is interpreted as a strategy to continue the tradition of 'luxury residential complexes,' as it previously was a site densely populated with residences of generals in the 1980s.
Since the upper limit of the selling price system is not applied, and a high-end brand is used, a somewhat high selling price has been set. The price for exclusive areas of 59 square meters ranges from 1.614 billion to 1.7762 billion won, 75 square meters from 2.089 billion to 2.195 billion won, and 84 square meters from 2.328 billion to 2.446 billion won, averaging around 69 million won per pyeong. Compared to the recent transaction of 1.67 billion won for an exclusive 84 square meter unit in Seocho Nature Hill Complex 4, it is evaluated as somewhat expensive. However, it is also necessary to consider that Seocho Nature Hill was supplied as long-term rental housing before being sold to the private sector.
A representative from a real estate office in Yangjae-dong, Seocho District, noted, "Many guests coming from the main downtown of Gwacheon returned, saying the price is expensive," adding, "However, given the unique location, if evaluated between Gaepo and the main downtown of Gwacheon, I think the selling price is appropriate." He continued, "The fact that this is a premium brand complex in Yangjae-dong, where not many new constructions are taking place, will also be a factor for price increases in the future."
Although there are advantages of easy access to the Gyeongbu Expressway and well-established road traffic infrastructure, there are some shortcomings in public transportation infrastructure. The nearest subway station, Yangjae Citizen's Forest Station on the Shinbundang line, took about 15 minutes to walk from the complex (based on an adult male in his 30s).
While promoting the advantage of the Seocho school district, the nearest Umyeon Elementary and Yeongdong Middle Schools are also about a 30-minute walk away.
A representative from a real estate office in Yangjae-dong, Seocho District, said, "Some may feel that the school is a bit far, but these days many parents drive their children to school and they often use academy buses after school, so there shouldn't be much difficulty." However, "Parents with young children in elementary school may feel concerned. Still, if shuttle buses are operated, it shouldn't be a major obstacle."
Park Ji-min, head of Wol Yong Subscription Research Institute, remarked, "Considering the strength of the DH brand, the already established living infrastructure, and the surrounding large corporate R&D campuses, it seems that the selling price has been set at an appropriate level."